The Korea Times
Korea's financial authorities on Wednesday stressed the need to pursue future-oriented investment based on an expected increase in tax revenue brought on by the robust economy. Finance Minister Koo Yun-cheol discussed the agenda during a meeting with Bank of Korea Gov. Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon and Budget Minister Park Hong-keun amid efforts to bolster interagency cooperation. According to the Ministry of Finance and Economy, the participants noted the government's tax earning is expected to rise going forward on the back of sounid economic conditions, adding the gains should be utilized for investment to prepare for the future and enhance growth potential. They also said the financial sector needs to play a proactive role in addressing economic disparity and inflation. The participants added recent volatility in the financial market may place a heavier burden on vulnerable groups, agreeing on the need to maintain close cooperation to stabilize people's livelihoods and manage risks.
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